Analysts game for Rakesh Jhunjhunwala-backed Nazara Technologies

Nazara Technologies is an Indian gaming and sports media platform. It's Rs 583 crore-IPO will run through March 17-19 and will be entirely an offer for sale (OFS)

Rakesh Jhunjhunwala-backed Nazara Technologies is all set to hit the primary market with its Rs 583-crore IPO on Wednesday. The diversified and online gaming firm’s three day issue will run through March 17-19 and will be entirely an offer for sale (OFS).

While 5.29 million equity shares will be offloaded via OFS by some of the shareholders, Rakesh Jhunjhunwala, who owns 3.29 million shares or 11.51 per cent stake in the company as of September 30, 2020, has decided to hold on to his stake. The issue has a price band of Rs 1,100-1,101 and will be available is lots